The Comptroller’s Annual State of the City’s Economy and Finances Report, released each year in December, is designed to provide a grounding for analysis as the City prepares to begin its annual budget process early in the new year.
Contracting is a powerful tool to achieve New York City’s goals and priorities – and the City has the power to use contracting strategically to make investments that support a vibrant, sustainable, and equitable City.
Report utilizes broader methodology and offers detailed recommendations designed to support Mayor Adams’ commitment to double the rate of M/WBE procurement.
The City of New York’s (the “City”) debt finances the capital maintenance and upkeep of an infrastructure that must accommodate not only 8.8 million City residents but also, in a typical year, hundreds of thousands of daily commuters and millions of tourists annually.
This annual report focuses on the City’s capital debt: how much is outstanding, how much room we have to borrow for projects in the coming years, how much we can afford, and how we stack up compared to other U.S. cities.